The winners for GlaxoSmithKline's 2007 Annual IMPACT Awards were announced. GlaxoSmithKline (NYSE: GSK) is one of the world's leader in pharmaceutical and health care research. The recipients will each receive $40,000 for their outstanding works in the community. "These organizations have committed themselves to promoting health and well-being." Said MaryLinda Andrews, GlaxoSmithKline Director for Community Partnership. The award ceremony will be held at GlaxoSmithKline's headquarter in Philadelphia on March 20th. The non-profit organizations that were recognized this year are: Domestic Violence Center of Chester County, The Free Clinic of Doylestown, Institute for Safe Families, The Letitia Fifer House d/b/a The Clinic, Pennsylvania Breast Cancer Coalition, Pennsylvania Health Law Project, Samaritan Counseling Center, and Water Street Rescue Missions Medical Clinic.
"The GSK IMPACT Awards are designed to recognize and promote the work of nonprofit organizations with a proven track record in the challenging and demanding area of community healthcare... Eight awards of $40,000 each have been made to small and medium sized nonprofit organizations in the Greater Philadelphia region, where GSK has its operational headquarters. Awards are given for existing work rather than new programs and an impressive number of strong applications were received." (GlaxoSmithKline)
If you wish to learn more about GlaxoSmithKline, you may go to their website at http://www.gsk-us.com/. From there, you may learn more about The GSK Impact Award by following these directions:
- Click on Our work with communities on the top left.
- Click on Health programs on the left side of FUNDING.
- Click on Award, then look for the "GSK Tenth Annual IMPACT Award" PDF file.
Yesterday, after GlaxoSmithKline's disappointing performance, I said that GlaxoSmithKline is not going to be on my portfolio anymore, now I have decided to keep them. My judgment was clouded by recent news regarding GlaxoSmithKline announcement of discontinuing their products. Furthermore, Gilead Sciences, Inc. (NYSE: GILD), one of GlaxoSmithKline's major competitors have repeatedly received higher performance reviews for their drugs over competing GlaxoSmithKline brands. I have forgotten that one of the most important quality in a community is how much they give back to their communities, especially for a health research company like GlaxoSmithKline. I will hold on to them for now.
Verdict: The future is bright for GlaxoSmithKline, but the gain won't be in the near future.
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